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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Portfolio Investments by Level in the Fair Value Hierarchy | The following table presents fair value measurements of the Company’s portfolio investments as of December 31, 2022 and 2021, according to the fair value hierarchy:
| December 31, 2022(1) |  | December 31, 2021(2)
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Senior secured first lien debt | $ | — |  |  | $ | — |  |  | $ | 1,579,512 |  |  | $ | 1,579,512 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,526,989 |  |  | $ | 1,526,989 |
Senior secured second lien debt | — |  |  | — |  |  | 38,769 |  |  | 38,769 |  |  | — |  |  | — |  |  | 38,583 |  |  | 38,583 |
Collateralized securities and structured products - equity | — |  |  | — |  |  | 1,179 |  |  | 1,179 |  |  | — |  |  | — |  |  | 2,998 |  |  | 2,998 |
Unsecured debt | — |  |  | — |  |  | 22,643 |  |  | 22,643 |  |  | — |  |  | — |  |  | 26,616 |  |  | 26,616 |
Equity | 2,341 |  |  | — |  |  | 73,951 |  |  | 76,292 |  |  | 3,404 |  |  | — |  |  | 37,736 |  |  | 41,140 |
Short term investments | 10,869 |  |  | — |  |  | — |  |  | 10,869 |  |  | 87,917 |  |  | — |  |  | — |  |  | 87,917 |
Total Investments | $ | 13,210 |  |  | $ | — |  |  | $ | 1,716,054 |  |  | $ | 1,729,264 |  |  | $ | 91,321 |  |  | $ | — |  |  | $ | 1,632,922 |  |  | $ | 1,724,243 |
(1)Excludes the Company's $30,766 investment in CION/EagleTree, which is measured at NAV. (2)Excludes the Company's $29,796 investment in CION/EagleTree, which is measured at NAV.
Changes in Level 3 Portfolio Investments | The following tables provide a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the years ended December 31, 2022 and 2021:
| Year Ended December 31, 2022
| Senior Secured First Lien Debt |  | Senior Secured Second Lien Debt |  |  |  | Collateralized Securities and Structured Products - Equity |  | Unsecured Debt |  | Equity |  | Total
Beginning balance, December 31, 2021 | $ | 1,526,989 |  |  | $ | 38,583 |  |  |  |  | $ | 2,998 |  |  | $ | 26,616 |  |  | $ | 37,736 |  |  | $ | 1,632,922 |
Investments purchased(2) | 549,950 |  |  | 19,930 |  |  |  |  | — |  |  | 3,635 |  |  | 35,081 |  |  | 608,596 |
Net realized (loss) gain | (5,646) |  |  | (19,327) |  |  |  |  | 24 |  |  | — |  |  | (7,798) |  |  | (32,747) |
Net change in unrealized (depreciation) appreciation | (21,581) |  |  | 14,604 |  |  |  |  | (621) |  |  | (7,623) |  |  | 9,999 |  |  | (5,222) |
Accretion of discount | 10,517 |  |  | 500 |  |  |  |  | — |  |  | 15 |  |  | — |  |  | 11,032 |
Sales and principal repayments | (480,717) |  |  | (15,521) |  |  |  |  | (1,222) |  |  | — |  |  | (1,067) |  |  | (498,527) |
Ending balance, December 31, 2022 | $ | 1,579,512 |  |  | $ | 38,769 |  |  |  |  | $ | 1,179 |  |  | $ | 22,643 |  |  | $ | 73,951 |  |  | $ | 1,716,054 |
Change in net unrealized (depreciation) appreciation on investments still held as of December 31, 2022(1) | $ | (39,831) |  |  | $ | 801 |  |  |  |  | $ | (621) |  |  | $ | (7,623) |  |  | $ | 1,604 |  |  | $ | (45,670) |
(1)Included in net change in unrealized (depreciation) appreciation on investments in the consolidated statements of operations. (2)Investments purchased includes PIK interest.
| Year Ended December 31, 2021
| Senior Secured First Lien Debt |  | Senior Secured Second Lien Debt |  |  |  | Collateralized Securities and Structured Products - Equity |  | Unsecured Debt |  | Equity |  |  |  | Total
Beginning balance, December 31, 2020 | $ | 1,223,268 |  |  | $ | 151,506 |  |  |  |  | $ | 12,131 |  |  | $ | 5,464 |  |  | $ | 75,913 |  |  |  |  | $ | 1,468,282 |
Investments purchased(1) | 889,038 |  |  | 1,885 |  |  |  |  | — |  |  | 21,095 |  |  | 8,096 |  |  |  |  | 920,114 |
Net realized (loss) gain | (210) |  |  | (2,932) |  |  |  |  | 670 |  |  | — |  |  | 6,350 |  |  |  |  | 3,878 |
Net change in unrealized appreciation | 5,394 |  |  | 3,102 |  |  |  |  | 2,287 |  |  | 43 |  |  | 20,751 |  |  |  |  | 31,577 |
Accretion of discount | 10,940 |  |  | 783 |  |  |  |  | — |  |  | 14 |  |  | — |  |  |  |  | 11,737 |
Sales and principal repayments(1) | (601,441) |  |  | (115,761) |  |  |  |  | (12,090) |  |  | — |  |  | (73,374) |  |  |  |  | (802,666) |
Ending balance, December 31, 2021 | $ | 1,526,989 |  |  | $ | 38,583 |  |  |  |  | $ | 2,998 |  |  | $ | 26,616 |  |  | $ | 37,736 |  |  |  |  | $ | 1,632,922 |
Change in net unrealized appreciation (depreciation) on investments still held as of December 31, 2021(2) | $ | 2,341 |  |  | $ | (1,621) |  |  |  |  | $ | 1,152 |  |  | $ | 43 |  |  | $ | 15,638 |  |  |  |  | $ | 17,553 |
(1)Includes non-cash restructured securities. (2)Included in net change in unrealized (depreciation) appreciation on investments in the consolidated statements of operations.
Schedule of Fair Value Measurement Inputs and Valuation Techniques | The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements of investments as of December 31, 2022 and 2021 were as follows:
|  | December 31, 2022
|  | Fair Value |  | Valuation Techniques/ Methodologies |  | Unobservable Inputs |  | Range |  | Weighted Average(1)
Senior secured first lien debt |  | $ | 1,471,816 |  |  | Discounted Cash Flow |  | Discount Rates |  | 6.5% |  | — |  | 34.0% |  | 14.7%
|  | 79,035 |  |  | Broker Quotes |  | Broker Quotes |  | N/A |  | N/A
|  | 20,050 |  |  | Market Comparable Approach |  | Revenue Multiple |  | 0.25x |  | — |  | 1.70x |  | 1.19x
|  | 4,527 |  |  |  | $ per kW |  | $131.85 |  | N/A
|  | 3,552 |  |  |  |  | EBITDA Multiple |  | 2.75x |  | — |  | 4.25x |  | 4.09x
|  | 532 |  |  | Other(2) |  | Other(2) |  | N/A |  | N/A
Senior secured second lien debt |  | 38,769 |  |  | Discounted Cash Flow |  | Discount Rates |  | 14.3% |  | — |  | 21.5% |  | 17.2%
Collateralized securities and structured products - equity |  | 1,179 |  |  | Discounted Cash Flow |  | Discount Rates |  | 21.0% |  | N/A
Unsecured debt |  | 15,316 |  |  | Market Comparable Approach |  | EBITDA Multiple |  | 9.25x |  | N/A
|  | 7,327 |  |  | Discounted Cash Flow |  | Discount Rates |  | 17.7% |  | N/A
Equity |  | 33,441 |  |  | Market Comparable Approach |  | EBITDA Multiple |  | 2.75x |  | — |  | 14.55x |  | 7.02x
|  | 23,995 |  |  |  | $ per kW |  | $412.5 |  | N/A
|  | 13,038 |  |  |  |  | Revenue Multiple |  | 0.13x |  | — |  | 5.75x |  | 2.93x
|  | 2,238 |  |  | Discounted Cash Flow |  | Discount Rates |  | 16.8% |  | N/A
|  | 1,234 |  |  | Broker Quotes |  | Broker Quotes |  | N/A |  | N/A
|  | 5 |  |  | Options Pricing Model |  | Expected Volatility |  | 80.0% |  | — |  | 90.0% |  | 87.3%
Total |  | $ | 1,716,054 |  |  |  |  |  |  |  |  |  |  |  |  |
(1)Weighted average amounts are based on the estimated fair values. (2)Fair value is based on the expected outcome of proposed corporate transactions and/or other factors.
|  | December 31, 2021
|  | Fair Value |  | Valuation Techniques/ Methodologies |  | Unobservable Inputs |  | Range |  | Weighted Average(1)
Senior secured first lien debt |  | $ | 1,292,635 |  |  | Discounted Cash Flow |  | Discount Rates |  | 5.5% |  | — |  | 24.7% |  | 9.9%
|  | 183,768 |  |  | Broker Quotes |  | Broker Quotes |  | N/A |  | N/A
|  | 27,557 |  |  | Market Comparable Approach |  | EBITDA Multiple |  | 3.50x |  | — |  | 6.00x |  | 4.98x
|  | 6,327 |  |  |  | Revenue Multiple |  | 2.25x |  | N/A
|  | 16,702 |  |  | Other(2) |  | Other(2) |  | N/A |  | N/A
Senior secured second lien debt |  | 24,408 |  |  | Discounted Cash Flow |  | Discount Rates |  | 8.5% |  | — |  | 18.6% |  | 12.7%
|  | 14,175 |  |  | Broker Quotes |  | Broker Quotes |  | N/A |  | N/A
Collateralized securities and structured products - equity |  | 2,998 |  |  | Discounted Cash Flow |  | Discount Rates |  | 16.0% |  | N/A
Unsecured debt |  | 26,616 |  |  | Discounted Cash Flow |  | Discount Rates |  | 12.7% |  |  |  | 16.2% |  | 13.6%
Equity |  | 17,596 |  |  | Market Comparable Approach |  | EBITDA Multiple |  | 3.25x |  | — |  | 21.50x |  | 9.88x
|  | 15,127 |  |  |  | $ per kW |  | $325 |  | N/A
|  | 4,032 |  |  |  | Revenue Multiple |  | 0.68x |  | — |  | 2.00x |  | 1.87x
|  | 981 |  |  | Options Pricing Model |  | Expected Volatility |  | 73.0% |  | — |  | 84.2% |  | 73.0%
Total |  | $ | 1,632,922 |  |  |  |  |  |  |  |  |  |  |  |  |
(1)Weighted average amounts are based on the estimated fair values. (2)Fair value is based on the expected outcome of proposed corporate transactions and/or other factors.

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